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Enterprise Asset Management Market: Mitigating Interruptions to Propel 8.2% CAGR by 2031 | SkyQuest Technology

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WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Enterprise Asset Management Market size was valued at USD 3.92 Billion in 2022 and is poised to grow from USD 4.21 Billion in 2023 to USD 7.74 Billion by 2031, at a CAGR of 8.2% during the forecast period (2024-2031).

Enterprise asset management is remarkably driven by technological improvements and innovations. The current progression of enterprise asset management is addressing several businesses that are going through transforming scenes, targeting to fulfil for growing demand of dynamic of interlinked and dynamic worldwide environment. The speedy technological improvements of the modern digital world have significantly impacted asset management and operations handling strategies of industries.

The increasing adoption of IoT in most industries has noticeably enhanced the tracking systems for the assets of enterprises. Hence, the incorporation of IoT in enterprise asset management solutions offers better detection and control variations, leading to improved market scenarios in the past years. Moreover, drone-based enterprise solutions and advancements in AI are projected to majorly transform the enterprise asset management market.

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Enterprise Asset Management Market Overview:

Report Coverage

Details

Market Revenue in 2023

USD 4.21 Billion

Estimated Value by 2031

USD 7.74 Billion

Growth Rate

Poised to grow at a CAGR of 8.2%

Forecast Period

2024–2031

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Offering, Application, Organization Size, Vertical, and Region

Geographies Covered

North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Expanding Adoption of Micro-Enterprise and Cloud-Based Architecture in Enterprise Asset Management

Key Market Drivers

Introduction of Technologies that offer Competitive Edge

Segments covered in Enterprise Asset Management Market are as follows:

OfferingSolution, Services (Professional Services [Planning & Consultation, Training & Education, and Support & Maintenance], Managed Services)ApplicationAsset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management, OtherOrganization sizeSmall and Medium-sized Enterprises, Large EnterprisesVerticalManufacturing (Heavy machinery manufacturing, Discrete manufacturing & Process manufacturing), Energy and Utilities (Power Generation, Renewable Energy and Oil- Gas Exploration & Production), Healthcare and Life Sciences (Hospitals & Clinics, Pharmaceutical Companies, Medical Device Manufacturers & Others), Transportation and Logistics (Fleet Management, Warehouse Management System, Distribution Equipment System & others), IT & Telecommunications (Telecom infrastructure, Network operation & Data centers), Government and Public Sector (Infrastructure management, Public works & Municipal services), Education (Education facilities & Research institutions), Others.

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Solution Segment to Lead on the back of Increasing Need for Strong and Cost-Effective Solutions by Companies

By offering, the solution segment dominated the enterprise asset management market in the past years. Since numerous companies are looking forward to adopting improved solutions, they are also desiring budget-friendly and strong systems for managing enterprise assets. This trend is projected to boost the segment growth in the coming years. The demand for enhanced EAM is projected to increase substantially to avoid errors in systems and detect and foresee them. To control expenses and spend less on repairs and maintenance, most enterprises are heavily adopting EAM systems.

The services segment is projected to be the fastest growing and will continue to lead with a notable CAGR. The key reason behind the growth of the segment is attributed to the growing need for experts who will efficiently handle and manage the growing number of services in the past years. Hence, both services as well as the solutions segment are propelling the market growth.

Asset Lifecycle Management Domain to Rule the Market Due to Increased Benefits of the Software

By Application, asset lifecycle management dominated the market in the past years owing to rising demand for asset lifecycle management software solutions. The software helps with proper planning, scheming or designing, and finishing numerous projects that were not possible due to its complex nature. Asset lifecycle management also supervises operations and maintenance. This will ultimately support the growth of the segment, thereby driving the market growth.

The time spent on the numerous processes and the number of errors made are considerably lessened with the help of the EAM system. Moreover, inventory management is the fastest-growing segment and is expected to grow flourishingly in the coming years. The solution offers important information about the use of components and the price of the components.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/enterprise-asset-management-market

Growing Demand for Improved EAM Systems to Propel the Large Enterprises Segment

By organization size, the large enterprises segment registered for a majority share of the market since they can spend enough money to invest in EAM systems, which will eventually amplify the adoption of these systems in the large businesses.

Nonetheless, the small and medium-sized enterprises segment is expected to be the fastest growing in the years to come. The growing trend of adoption of EAMs in these businesses is mostly observed in emerging and underdeveloped economies. Hence the forthcoming years will see increased adoption of EAMs that will help small and medium-sized businesses to take full advantage of the software and tools of EAMs.

Enterprises Increasingly Adopting the Trends to Further Contribute the Market Progress

The emerging trend in the market is denoting a changing world that is making the best use of technology to enhance the performance of assets, encourage sustainability, and reduce operational costs. Organizations are embracing these trends and technologies, which will help them to address the new complexities of asset management in a better way and arrange the organization for progress in a changing landscape. Welcoming these improvements will not just assure higher operational efficacy and control costs, but also support in inclining towards sustainability, offering strategic benefit in the current changing business scenario.

Related Report:

Healthcare Asset Management Market

Asset Management Market

Crypto Asset Management Market

Identity And Access Management (IAM) Market

Facility Management Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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Fitterfly Healthtech and Ascensia Diabetes Care Launch a 21-Day Diabetes Management Program on World Diabetes Day

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MUMBAI, India, Nov. 14, 2024 /PRNewswire/ — This World Diabetes Day, on 14th November, Fitterfly Healthtech and Ascensia Diabetes Care are joining hands to launch a complimentary 21-day Diabetes Management Program for Ascensia’s glucometer users. This initiative aims to make diabetes care simpler and more effective for people, offering them personalised support, expert guidance, and easy-to-use tools.

For many, managing diabetes can feel overwhelming. Even with the right tools, knowing where to start can be challenging and confusing. That’s why this 21-day program is designed to help users get started on a wellness journey and build lasting habits, as 21 days is the time it takes to set a habit. By simply scanning a QR code on the warranty page of Ascensia’s glucometer, users can join the Fitterfly program and access diet plans, a 24/7 AI wellness coach, group sessions with diabetes experts, glucose tracking and insights, food diary tracking, assessments, and more. With each step, this structured support brings confidence and clarity, helping users feel truly in control of their health.

Albertraj Balraj, Country Head and Director at Ascensia Diabetes Care India Pvt Ltd., commented, “Glucometers and Self-Monitoring Blood Glucose (SMBG) play an important role in effective blood sugar monitoring. Through this partnership, we aim to offer people a 360° solution by combining our world-class glucometer with Fitterfly’s advanced tools and expert support to make diabetes management truly simple for everyone. We want people to approach diabetes care with confidence and without fear.”

Dr Arbinder Singal, CEO & co-founder of Fitterfly Healthtech, added, “Lifestyle management remains the first line of therapy for type 2 diabetes. Our collaboration with Ascensia makes it easy for people to take control of their health and get started on a journey to lower their blood sugar sustainably. By linking their glucometer to our Fitterfly app, users can track their readings, gain insights, and learn to manage diabetes with ease.”

This partnership is a true example of two brands joining forces to reduce the diabetes burden in the country.

To know more about Fitterfly’s Diabetes Programs, visit Fitterfly.

About Fitterfly

Fitterfly is a leading Indian healthtech company specialising in digital therapeutic programs for managing diabetes, obesity, and heart disease. Co-founded in 2016 by Dr Arbinder Singal and Shailesh Gupta, the Mumbai-based company employs over 200 professionals, including doctors, nutritionists, fitness experts, and technologists. Fitterfly aims to improve metabolic health by focusing on conditions like prediabetes, diabetes, obesity, hypertension, and heart disease. Fitterfly has significantly contributed to health technology research, publishing over 80 papers and winning numerous awards, including the Economic Times Healthtech Startup of the Year 2022. Fitterfly has raised $16.6 million in funding, with its last round in June 2022 led by Amazon with support from Fireside Ventures, 9 Unicorns, and Venture Catalysts.

About Ascensia Diabetes Care

Ascensia Diabetes Care is a global company focused entirely on helping people with diabetes. Our mission is to empower those living with diabetes through innovative solutions that simplify and improve their lives. We are home to the world-renowned CONTOUR® portfolio of blood glucose monitoring systems and the exclusive global distribution partner for the Eversense® Continuous Glucose Monitoring Systems from Senseonics. Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia products are sold in more than 100 countries. Ascensia has around 1,400 employees and operations in 29 countries. For further information, please visit the Ascensia Diabetes Care website at www.ascensia.com.

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Eco-documentary A Chorus of Frogs officially launched

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NANJING, China, Nov. 14, 2024 /PRNewswire/ — Recently, the ecological documentary A Chorus of Frogs produced by Nanjing Newspaper Media Group was officially launched. The film told the story of Wang Ningjing, a post-95s Nanjing girl, who returned to the countryside to find the Chinese immaculate treefrog and shoot a documentary.

https://youtu.be/V8aI9PIFalA?si=Mcc6iP5FeAk3Y8OF

Wang Ningjing, the post-95s generation from Nanjing, is currently studying wildlife filmmaking in the UK. Professor Borzée Amaël from Nanjing Forestry University, who grew up in Madagascar, has been researching treefrogs over ten years.

Unlike most girls who like fairy tales, Wang has been passionate about creature and nature since childhood. Nanjing Hongshan Forest Zoo, not far from her home, was a place she often visited as a child.

“I see one. Is that it?……That one on the wheat. So beautiful!” The species’ breeding season is May and June. During this period, Professor Amaël conducted regular field surveys to locate populations of the treefrog, known for its unique calls that can be heard from a distance. The documentary began with Wang listening to the calls of the treefrog in the fields at night.

A Chorus of Frogs is positioned as an ecological and humanistic documentary. By following Wang Ningjing and Amer to explore the traces of the Chinese immaculate treefrog, it vividly tells the story of people and frogs.

Chinese path to modernization has the distinctive features of respecting nature, following its laws and protect it as well as promoting harmony between humans and nature. The harmonious coexistence between human and the environment is important not only to China but to the world as well.

Where does the Chinese immaculate treefrog go? I believe everyone will find their own answer after watching.

Nanjing Newspaper Media Group, a state-owned media group in Nanjing City, was established on December 17, 2002 with the approval from the National Press and Publication Administration. In recent years, the group has seized strategic opportunities for media convergence to develop a new type of mainstream media based on the Internet. Fully committed to mobile first, it has accelerated the establishment of all-media communication system. The group’s flagship brand, Zijinshan Video, focuses on short video creation, particularly the production of documentaries. It currently has more than 65 million followers across all platforms.

Video – https://www.youtube.com/watch?v=V8aI9PIFalA

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Avathon Partners with CP PLUS, Largest CCTV Manufacturer in India, to Enhance Public Safety while Strengthening Community Bonds

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PLEASANTON, Calif., Nov. 13, 2024 /PRNewswire/ — Avathon, provider of the leading AI platform for industrial operations, has partnered with CP PLUS, one of the largest manufacturers of CCTV cameras, to create safer, more connected societies by bundling Avathon’s computer vision technology with each camera. The companies are bringing Avathon’s computer vision AI capabilities to small and medium-sized businesses (SMBs) across India, turning their cameras into intelligent assets that enable more secure workplaces, factories and facilities.           

In today’s fast-paced world, it’s hard to keep an eye on every single detail, every minute of the day. Computer vision AI technology gives users the freedom and control to go about their daily lives knowing they will receive proactive alerts identifying safety and security issues in real time.

“Increasing demand for advanced public safety tools, smart home devices and integrated AI-powered cameras is fueling massive industry growth,” said Aditya Khemka, Managing Director, CP PLUS, a subsidiary of Aditya Group. “Our partnership with Avathon will help us to better deliver state-of-the-art AI-powered solutions that feature advanced functions like real-time anomaly detection and intelligent monitoring.”

Avathon’s computer vision AI automatically detects and alerts unsafe conditions and incidents in real time, allowing users to proactively take the right actions. Avathon enables business owners using valuable resources to monitor CCTV camera feeds to get back to focusing on operations. The company partners with OEM camera manufacturers by providing AI technology that enables end customers to quickly and accurately address processes, behaviors, and conditions that cause unacceptable risk. Through its partnership with CP PLUS, Avathon has democratized this technology, giving access to large organizations and small businesses alike.

CP PLUS is India’s leading surveillance brand with the most extensive portfolio in the entire global industry. Representing a major share of the Indian CCTV market, CP PLUS offers a range of products and services to meet the varied needs of government, commercial, residential, and industrial customers and its products are successfully deployed in every nook and corner of India and many countries across verticals and industry.

“AI cameras are paving the path forward in India toward smart-city initiatives and enhanced public safety improvements. In this sometimes disconnected world, it’s comforting to rely on a technology that instantly alerts users to potential dangers and other anomalies,” said Pervinder Johar, CEO of Avathon. “We’re proud to partner with CP PLUS to provide the AI innovations needed to push India to the leading edge of technological advancement.”

About Avathon

Avathon, a leader in Industrial AI, extends the life of critical infrastructure while advancing the journey toward full autonomy. Avathon’s Industrial AI platform empowers commercial and government customers with scalable, secure, and value-driven solutions that enhance efficiency and resilience across heavy industry.

Media contact:

Jon Ross
Sr. PR & Communications Manager
Avathon
jross@avathon.com

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SOURCE Avathon

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